JCB International enters agreement with Sberbank for cards acceptance

JCB International, an international operations subsidiary of JCB, has signed an agreement with Sberbank of Russia to start accepting JCB cards on the Sberbank nationwide POS terminal network in 2018.

Sberbank has the largest POS terminal network in the country. JCBI started card issuing business with several local banks in Russia in 2015 and the cardmember base has been expanding.

JCB is global payment brand and a payment card issuer and acquirer in Japan. Its acceptance network includes about 32 million merchants and over a million cash advance locations in 190 countries and territories.

Sberbank is planning to set up an ecommerce ecosystem modeled on Alibaba Group to bring together consumer goods, real estate, education, health care and travel industries.

The project will offer services both to end users and to businesses involved in a broad range of sectors, from education and health care to construction and consumer goods.